Treasurys fall amid hopes for bailout package

NickGodt

NEW YORK (MarketWatch) -- Treasurys fell early on Tuesday, sending yields higher, amid hopes that a financial bailout package will eventually be approved, after its rejection in Congress Monday sent stocks plunging and bonds surging. In early action, futures for the broad S&P 500 index
SPX, +0.31%
were up 2.2%. Two-year note yields
TMUBMUSD02Y, +1.50%
were up 4 basis points at 1.70%. Repeating that the U.S. economy is at a "critical moment," Early Tuesday, President Bush again urged lawmakers to approve the rescue plan for the financial markets. Bonds showed little immediate reaction to the S&P/Case-Schiller home price index, which fell 0.9% in July, and is now down 16.3% year on year. The Chicago purchasing managers index is expected at 9.45 am, and the Conference Board will release its September reading of consumer confidence at 10. am.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.